The analysis of radiative transfer becomes computationally complex for a composite when there are multiple layers and multiple spectral bands. A convenient analytical method is developed for combined radiation and conduction in a composite of alternating semitransparent and opaque layers. The semi- transparent layers absorb, scatter, and emit radiation, and spectral properties with large scattering are included. The two-flux method is used, and its applicability is verified by comparison with a basic solution in the literature. The differential equation in the two-flux method Is solved by deriving a Green's function. The solution technique is applied to analyze radiation effects in a multilayer zirconia thermal barrier coating with internal radiation shields for conditions in an aircraft engine combustor. The zirconia radiative properties are modeled by two spectral bands. Thin opaque layers within the coating are used to decrease radiant transmission that can degrade the zirconia insulating ability. With radiation shields, the temperature distributions more closely approach the opaque limit that provides the lowest metal wall temperatures.